Please dismiss any thoughts you had that increasing regulation might have hurt the economy
China’s Cyberspace Administration has published statistics to assert that the nation’s big technology companies are growing and not laying off thousands of workers. A Friday post by the Administration (CAC) revealed that from July 2021 to mid-March 2021, a dozen of China’s top tech companies increased their collective payrolls by 79,100 people. The post names Tencent, Alibaba, ByteDance, Meituan, Pinduoduo, Kuaishou, Baidu, JD.com, NetEase, Weibo, Bilibili and Ant Group, and says all but one increased overall headcount. The announcement then offers short summaries of interviews the CAC has conducted with some of the companies mentioned above. All tell tales of re-alignments to catch shifting markets and consumer behaviour. «In the face of the impact of the epidemic, complex external situations and fierce industry competition, some companies took the initiative to respond, increased technological innovation, recruited high-level talents, focused on improving their core competitiveness, and took various measures to stabilize the existing workforce,» the post states.
